By an OGJ Online Correspondent
LIMA, Feb. 5�Occidental Petroleum Corp. has signed an 18-month agreement with Perupetro, the state oil agency, to evaluate blocks 21 and 22 in the Pachitea and Ucayali basins.
Perupetro said that the accord goes further than a technical evaluation agreement, and includes a guarantee that studies will be completed.
The government also allowed Perupetro to sign an exploration and production license with Spain�s Repsol-YPF SA for block 27 in the Mara�on basin. The North Peruvian pipeline runs through the southern end of the block.
Perupetro has also been authorized to sign an exploration and production contract with US firm Maple Gas Corp. for block 31-E in the Ucayali basin, where the company produces an average 400 b/d of crude oil from two other small blocks.
Maple will complete seismic studies in an initial 2-year period and drill an exploration well in the second 26-month period.
Minimum royalties for oil production will be 15% of the basket price at $15/bbl, increasing to 18.5% at $20/bbl and 28% at $35/bbl.
Meanwhile, Atlantic Richfield Peru Inc., which has been waiting to complete business in Peru after its merger with BP, has obtained permission to cede its 50% share in Block 64 on the border with Ecuador to Repsol-YPF unit Repsol Exploracion Peru and Burlington Resources Peru Ltd., which hold 25% each. Occidental has the other 50%.
Atlantic Richfield also ceded its 35% in Block 35 in the Ucayali basin to operator Repsol and Perez Companc.
Repsol originally held 35% of the block and Perez Companc 30%.
